Positive signs in Lemminkäinen results
By Mike Hayes02 March 2016
In its financial results for 2015, construction firm Lemminkäinen reported net sales of €1.9 billion, down €165.5 million on its 2014 figure.
The company’s operating profit, however, was fractionally up, at €37.3 million, compared with €36.3 million in 2014, while pre-tax profit rose from -€1.7 million to €17 million.
Lemminkäinen’s president and CEO, Casimir Lindholm, said the figures were positive and allowed the company to strengthen its financial position.
“Our balance sheet is lighter than in 2014,” he said, “ and the cash flow from our business operations remained positive throughout the year.”
Mr Lindholm said the company’s interest-bearing debt decreased from €214 million to €127 million, and that Lemminkäinen was continuing to streamline its portfolio and divest non-strategic businesses, which would improve its competitiveness going forward.